So, is Croydon the best UK investment for monthly income?
If you’re looking to invest in the London property market, the area may be worth considering.
Croydon has relatively affordable properties and features that make it attractive to potential tenants.
However, other London boroughs have been found to have cheaper property and higher rental yields, so it’s worth looking at good value areas like Bexley, Barking and Dagenham.
London commuter towns have also been rising in popularity recently, with prominent areas like Luton, Slough, and High Wycombe being particularly notable.
But for those looking further afield, much cheaper property and much higher rental yields can be found up north.
As London property prices become increasingly unassailable for many investors, major northern cities are gaining more attention.
For example, Zoopla states that the average rental gross yield in Liverpool is 7.21%, one of the highest in the country, and the average price of a buy-to-let property there is just £127,000, a far cry from the average Croydon property.
As previously mentioned, London is at the bottom of the leaderboard when it comes to regional capital growth projections. Elsewhere, though, Savills predicts regions like the North West (with prominent areas for buy-to-lets in Liverpool and Manchester) will have some of the highest expected growth – 20.2% by 2028.
Further Reading: Delve further into the UK rental market with RWinvest’s insights into buy-to-let property in Bradford.